It didn’t take long for Donald Trump to give his opinion on the China’s ‘Black Monday’ – and tell everyone he’d been warning them all along it could happen.
"I've been talking about China for years,” he said. “Because China's going bad it's going to bring us down, too, because we're so heavily coupled with China," the real-estate mogul told Fox News. "I'm the one that says you better start un-coupling from China because China's got problems."
Trump also pointed a finger at hedge funds and said that if he were elected president in 2016 he would raise taxes on the wealthy and specifically target those working in high-stakes finance.
The rhetoric was reminiscent of the final months of the 2008 presidential election, when Republican nominee John McCain suspended his campaign in reaction to the massive financial crisis.
Donald Trump's most controversial quotes
Donald Trump's most controversial quotes
1/14 On Isis:
"Some of the candidates, they went in and didn’t know the air conditioner didn’t work and sweated like dogs, and they didn’t know the room was too big because they didn’t have anybody there. How are they going to beat ISIS?"
2/14 On immigration:
"I will build a great wall — and nobody builds walls better than me, believe me —and I’ll build them very inexpensively. I will build a great, great wall on our southern border, and I will make Mexico pay for that wall. Mark my words."
3/14 On Free Trade:
"Free trade is terrible. Free trade can be wonderful if you have smart people. But we have stupid people."
PAUL J. RICHARDS | AFP | Getty Images
4/14 On Mexicans:
"When Mexico sends its people, they’re not sending their best. They’re sending people that have lots of problems. They’re bringing drugs. They’re bringing crime. They’re rapists."
5/14 On China:
"I just sold an apartment for $15 million to somebody from China. Am I supposed to dislike them?... I love China. The biggest bank in the world is from China. You know where their United States headquarters is located? In this building, in Trump Tower."
6/14 On work:
"If you're interested in 'balancing' work and pleasure, stop trying to balance them. Instead make your work more pleasurable."
7/14 On success:
"What separates the winners from the losers is how a person reacts to each new twist of fate."
8/14 On life:
"Everything in life is luck."
9/14 On ambition:
"You have to think anyway, so why not think big?"
10/14 On his opponents:
"Bush is totally in favour of Common Core. I don't see how he can possibly get the nomination. He's weak on immigration. He's in favour of Common Core. How the hell can you vote for this guy? You just can't do it."
11/14 On Obamacare:
"You have to be hit by a tractor, literally, a tractor, to use it, because the deductibles are so high. It's virtually useless. And remember the $5 billion web site?... I have so many web sites, I have them all over the place. I hire people, they do a web site. It costs me $3."
12/14 On Barack Obama:
"Obama is going to be out playing golf. He might be on one of my courses. I would invite him. I have the best courses in the world. I have one right next to the White House."
13/14 On himself:
"Love him or hate him, Trump is a man who is certain about what he wants and sets out to get it, no holds barred. Women find his power almost as much of a turn-on as his money."
14/14 On America:
"The American Dream is dead. But if I get elected president I will bring it back bigger and better and stronger than ever before and we will make America great again."
The lack of new measures from Beijing to support Chinese stocks following an 11 percent drop last week sparked a free-fall in global equities and a selloff in oil and commodities. Wall Street's rout continued on Monday, with the Dow Jones Index down more than 1,000 points, or about six percent, shortly after the open.
Following Trump on Fox News, fellow Republican candidate and former Hewlett-Packard Co chief executive Carly Fiorina said she had expected a market correction for "some time."
"The market has been way too high, given the fundamentals. Our economy is not particularly strong - 2 percent growth is very lackluster. China's economy has been slowing down for some time. Europe's economy is in trouble," she said.
But Fiorina mostly blamed the Federal Reserve.
"I think the stock market has hit record highs over and over again because the Federal Reserve has ensured, through its easy-money policy, that the stock market is the only place you can earn a return," she said. "I think this is warranted honestly."
New Jersey Governor Chris Christie, also a Republican candidate, told Fox News the government under President Barack Obama had borrowed too much and with China a major buyer of U.S. debt a market correction in the Asian superpower is "going to have an even greater effect because this president doesn't know how to say no to spending."
"What you need to do in the Oval Office is rein this government in. Stop running up so much debt," he said.Reuse content